Wealthy hospitals have a cushion to weather coronavirus crisis that safety-net facilities don’t

Cancellations of nonessential surgeries come with the coronavirus patients


Inova Health System, located  in some of the wealthiest suburbs of Washington, D.C., and Truman Medical Centers, a safety-net hospital in downtown Kansas City, Missouri, are confronting the same financial issues, according to an article on the Kaiser Health News website.

But Truman has less than a month’s worth of cash reserves  while Inova has enough money to operate for at least 21 months.

“At the end of the day, not all hospitals are created equal,” Charlie Shields, Truman’s president and CEO, said in the article. “If you were sitting on a year of … cash on hand, that would not be as challenging, but most safety-net hospitals are south of 25 days, and we’re probably around 10. How do you manage through that?”

However,  Dr. J. Stephen Jones, Inova’s president and CEO, said, “Our finances are a mess at this point,” with the system postponing non-urgent treatments and eliminating 427 administration and management positions. “This is an existential threat to every health care organization, no matter how strong they come into it,” said Jones, who cut his own salary by 25%.

Read the article.



May 14, 2020


Topic Area: Maintenance and Operations


Recent Posts

How Efficiency Checklists Help Hospitals Save Energy, Water and Money

Keith Edgerton explains how a simple, systematic tool can help healthcare facilities identify savings, support sustainability goals and reinvest in long-term decarbonization.


Designing with Heart: Seen Health Center Blends Cultural Warmth and Clinical Care

Case study: The Alhambra-based facility uses Wilsonart Woodgrains to create a space where comfort, tradition and durability come together for an elevated senior care experience.


Rutgers Health and University Hospital Breaks Ground on Campus Expansion

The groundbreaking follows the long-awaited demolition of administrative offices built in the 1970s.


What to Consider When Modernizing Healthcare Facilities

While there has been a call to preserve old buildings, healthcare facilities need to weigh the options of patient care.


Corewell Health Beaumont Troy Hospital to Build New Tower

The tower is expected to be completed in 2030.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

 
 
 
 

Healthcare Facilities Today membership includes free email newsletters from our facility-industry brands.

Facebook   Twitter   LinkedIn   Posts

Copyright © 2023 TradePress. All rights reserved.